IFS CAPITAL LIMITED (I49) Fair Value & Analysis
Financial Services · SG · Market cap 65.8M SGD
Fair value as of: Aug 13, 2026
From 11 valuation models · updated 4 days ago
Share price −2.9% over the past month.
Below-average quality, screening 59% undervalued on our models.
What matters now
- The price is below even our cautious bear case (0.2000 SGD). The market is more pessimistic than our downside scenario.
- Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range 0.0957 SGD – 0.2318 SGD · fair‑value band 0.2000 SGD – 0.2700 SGD · the 0.1700 SGD price screens below the 0.2700 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
IFS CAPITAL LIMITED (I49) currently trades at 0.1700 SGD, while our model-based Fair Value estimate is 0.2700 SGD, implying the stock looks roughly 58.8% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.
Over the trailing twelve months, IFS CAPITAL LIMITED generated revenue of 56.9M SGD at a net margin of 8.3%. Revenue grew 18.4% year over year. It earns a return on equity of 3.0%. Net debt stands at 233M SGD. Fundamentals as of Aug 13, 2026
Our scenario range runs from 0.2000 SGD (bear case) to 0.2700 SGD (bull case); at 0.1700 SGD, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 30% below its 52-week high and 44% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -45% fair-value upside, at 59%, I49 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 11 models by family
Widest divergence: Asset-Based (0.3200 SGD) versus Earnings-Based (0.1300 SGD). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 45 · Market factors (momentum, volatility) 55
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
IFS Capital Limited, together with its subsidiaries, provides private credit origination, insurance, and asset management services to SMEs, consumers, and investors in Singapore, Hong Kong, Thailand, Malaysia, and Indonesia. It operates in four segments: Private Credit, Insurance, Private Equity and Other Investments, and Asset Management.
Full company description
IFS Capital Limited, together with its subsidiaries, provides private credit origination, insurance, and asset management services to SMEs, consumers, and investors in Singapore, Hong Kong, Thailand, Malaysia, and Indonesia. It operates in four segments: Private Credit, Insurance, Private Equity and Other Investments, and Asset Management. The company offers factoring, accounts receivable financing, trade financing, asset-based financing loans, working capital, leasing, and hire purchase services, as well as consumer loan services; and issues performance bonds and guarantees, domestic maid insurance, property and casualty insurance, motor insurance, engineering insurance, and work injury compensation insurance, as well as holds equity securities and bonds under the regulated insurance fund. It is also involved in the provision of development capital in the form of convertible debt instruments and private equity investments; and asset management services, and venture capital investment activities. In addition, the company offers money lending, business debt receivable purchase, credit agency, direct financing, operating lease, and consumer financing services, accounts receivable purchase of onshore and offshore trade receivables; provides financing and manages lending transactions; and offers web portal and online loan marketplace services, as well as invests in private credit funds. IFS Capital Limited was incorporated in 1987 and is based in Singapore. IFS Capital Limited operates as a subsidiary of Phillip Assets Pte Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
IFS CAPITAL LIMITED reported revenue of 62.6M SGD in FY2025 versus 43.4M SGD in FY2021, a compound +9.6%/yr. Reported net income was 4.7M SGD in FY2025, compounding −12.1%/yr from FY2021.
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Peer Group
Credit Services · 334 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Credit Services median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Credit Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Visa Inc V | $359.42 | $198.27 | -45% |
| Mastercard Incorporated MA | $561.44 | $221.87 | -60% |
| Bajaj Finance Limited BAJFINANCE | ₹1,094 | ₹397.61 | -64% |
| Shriram Finance Limited SHRIRAMFIN | ₹1,117 | ₹553.83 | -50% |
| Cholamandalam Investment and Finance Company CHOLAFIN | ₹1,918 | ₹796.52 | -58% |
| Tata Capital Limited TATACAP | ₹367.05 | ₹149.40 | -59% |
| Power Finance Corporation PFC | ₹376.50 | ₹615.85 | +64% |
| Muthoot Finance Limited MUTHOOTFIN | ₹2,876 | ₹3,429 | +19% |
| Indian Railway Finance Corporation IRFC | ₹88.35 | ₹69.72 | -21% |
| REC Limited RECLTD | ₹346.00 | ₹692.00 | +100% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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